C Si Ni Cr V Ti Ta Sc Li Sr Zr Fe Cu Zn Sn B Al Ce U Mn Mo Nb Sb

number of shares is then compared with the number of
shares that would have been issued assuming the exercise
of the share options. In years when there is a net loss
attributable to shareholders, the dilutive effect of potential
shares is not taken into effect.
Earnings
Net profit (loss) attributable
to equity holders for basic
2010 2009
and diluted earnings per share 2,414 (75,642)
Number of shares (in 000’s)
Weighted average number of ordinary
shares for basic earnings per share 26,918 26,861
Dilutive effect of share-based payments
Weighted average number of ordinary
– –
shares adjusted for effect of dilution 26,918 26,861
As documented in note 6, the loss per share from
discontinued operations for the year ended December 31,
2009 was 1.05. This loss per share can be deducted from
the total loss per share for 2009 in order to arrive at the
loss per share from continuing operations.
23. Loans and borrowings
This note provides information about the contractual
terms of the Company’s interest-bearing loans and
borrowings. For more information about the Company’s
exposure to interest rate and foreign currency risk,
see notes 31.
Non-current Effective interest rate Maturity 2010 2009
171,003 Term Loan EURIBOR + 2.25% 08/2012 90,460 95,835
$175,000 Term Loan Revolver EURIBOR + 2.25% 08/2012 69,000 39,000
113,225 GK SPK Passau 3.75%–5.85% 03/2013-03/2018 6,151 8,551
14,000 GK Unicredit 5.08%–6.58% 09/2013-12/2014 2,863 4,473
11,400 GK Landesbank 4.65% 03/2017 1,275 1,630
12,200 GFE bank loan 4.95% 12/2023 2,071 2,374
13,466 GfE subsidiary debt 4.05–6.30% 03/2013-03/2023 1,722 2,346
19,825 ALD subordinated loan 8.04% 08/2012 13,105 14,082
Capital lease obligations 4.60%–11.90% 07/2014-06/2015 1,166 28
Total 187,813 168,319
Current Effective interest rate Maturity 2010 2009
113,225 GK SPK Passau 3.75–5.85% 03/2013-03/2018 1,761 1,377
14,000 GK Unicredit 5.08%–6.58% 09/2013-12/2014 1,313 1,141
11,400 GK Landesbank 4.65% 03/2017 232 251
12,200 GFE bank loan 4.95% 12/2023 123 126
13,466 GfE subsidiary debt 4.05–6.30% 03/2013-03/2023 465 500
Capital lease obligations 4.60%–11.90% 07/2014-06/2015 360 69
Total 4,254 3,464
Term loan and revolving credit facility
On August 30, 2007, the Company entered into a $275,000
term loan and revolving credit facility (“Credit Facility”). This
facility provides the Company with a $100,000 term loan and
up to $175,000 in revolver borrowings, which are subject
to certain affirmative and negative covenants. Borrowings
under the revolving credit facility may be used for general
corporate purposes of the Company. As of December 31,
2010, $69,000 was outstanding under the revolving credit
facility (2009: $39,000). At December 31, 2010, there was
unused availability of $47,800 (December 31, 2009: $79,906).
The facility terminates in August 2012.
Interest on the Credit Facility is based on current LIBOR
(or in the case of any loans denominated in Euros,
EURIBOR) plus a margin. The margin is dependent on the
leverage ratio. At December 31, 2010, the margin was 2.25
(2009: 1.50). To mitigate risk, the Company entered into an
interest rate swap to fix the interest rate on the term loan
at 3.67%.
The Credit Facility is subject to several affirmative and
negative covenants including, but not limited to, the
following:
• EBITDA to Net Finance Charges: Not to be less than
3.00:1
• Net Debt to EBITDA: Not to exceed 3.75:1
• Senior Net Debt to EBITDA: Not to exceed 3.00:1
EBITDA, Net Finance Charges, Net Debt and Senior Net
Debt are defined in the Credit Facility agreement.
Notes to Consolidated Financial Statements 111